Battery Monitoring Market - Forecasts from 2019 to 2024
The battery monitoring market is projected to witness a CAGR of 27.20% to reach US$8,053.489 million by 2024, from US$1,901.168 million in 2018. Battery monitoring refers to the system which manages the battery through monitoring its state, calculating data and controlling its environment. Rising focus on electric vehicles is one of the major drivers of the battery monitoring system market. Favorable government initiatives to support the renewable energy sector while reducing air pollution is driving the demand for electric vehicles which, in turn, is boosting the growth of battery monitoring system market.
The battery monitoring market has been segmented on the basis of type, components, battery type, end user and geography. In the component segment, hardware holds a significant market share owing to the simple installation, fast sampling, and high-resolution recording capabilities. The hardware components comprise of sensors, controllers, data recorder among others. Further, in the battery type segment, lithium-ion batteries are growing at a substantial rate on account of the increasing application of lithium-ion batteries in electric vehicles. Geographically, North America dominates the global monitoring market due to the early adoption of advanced technologies coupled with increasing investments in data centers and renewable energy.
DRIVERS
Rising demand for electric vehicles.
The growing importance of energy efficient systems.
RESTRAINTS
The high cost of battery monitoring systems.
INDUSTRY UPDATE
In April 2018, Canara acquired Power Service Concepts, Inc., a leading battery services firm based in the greater New York metro area.
The major players profiled in the Battery Monitoring market include Texas Instruments Incorporated, BatteryDAQ, Eagle Eye Power Solutions, LLC, ABB, Schneider Electric, Canara, Inc., Socomec, Curtis Instruments Inc., Storage Battery Systems LLC, Powershield Ltd.
Segmentation
The battery monitoring market has been analyzed through the following segments:
By Type
Wired
Wireless
By Component
Hardware
Software
By Battery Type
Lithium Ion
Lead Acid
Others
By End User
Automotive
Consumer electronics
Energy and Power
Others
By Geography
North America
USA
Canada
Mexico
South America
Brazil
Argentina
Others
Europe
Germany
France
United Kingdom
Spain
Others
Middle East and Africa
Saudi Arabia
Israel
Others
Asia Pacific
China
Japan
South Korea
India
Others
The battery monitoring market has been segmented on the basis of type, components, battery type, end user and geography. In the component segment, hardware holds a significant market share owing to the simple installation, fast sampling, and high-resolution recording capabilities. The hardware components comprise of sensors, controllers, data recorder among others. Further, in the battery type segment, lithium-ion batteries are growing at a substantial rate on account of the increasing application of lithium-ion batteries in electric vehicles. Geographically, North America dominates the global monitoring market due to the early adoption of advanced technologies coupled with increasing investments in data centers and renewable energy.
DRIVERS
Rising demand for electric vehicles.
The growing importance of energy efficient systems.
RESTRAINTS
The high cost of battery monitoring systems.
INDUSTRY UPDATE
In April 2018, Canara acquired Power Service Concepts, Inc., a leading battery services firm based in the greater New York metro area.
The major players profiled in the Battery Monitoring market include Texas Instruments Incorporated, BatteryDAQ, Eagle Eye Power Solutions, LLC, ABB, Schneider Electric, Canara, Inc., Socomec, Curtis Instruments Inc., Storage Battery Systems LLC, Powershield Ltd.
Segmentation
The battery monitoring market has been analyzed through the following segments:
By Type
Wired
Wireless
By Component
Hardware
Software
By Battery Type
Lithium Ion
Lead Acid
Others
By End User
Automotive
Consumer electronics
Energy and Power
Others
By Geography
North America
USA
Canada
Mexico
South America
Brazil
Argentina
Others
Europe
Germany
France
United Kingdom
Spain
Others
Middle East and Africa
Saudi Arabia
Israel
Others
Asia Pacific
China
Japan
South Korea
India
Others
1. INTRODUCTION
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.4. Currency
1.5. Assumptions
1.6. Base, and Forecast Years Timeline
2. RESEARCH METHODOLOGY
2.1. Research Design
2.2. Secondary Sources
3. KEY FINDINGS
4. MARKET DYNAMICS
4.1. Market Segmentation
4.2. Market Drivers
4.3. Market Restraints
4.4. Market Opportunities
4.5. Porter’s Five Forces Analysis
4.5.1. Bargaining Power of Suppliers
4.5.2. Bargaining Power of Buyers
4.5.3. Threat of New Entrants
4.5.4. Threat of Substitutes
4.5.5. Competitive Rivalry in the Industry
4.6. Life Cycle Analysis - Regional Snapshot
4.7. Market Attractiveness
5. BATTERY MONITORING MARKET BY TYPE
5.1. Wired
5.2. Wireless
6. BATTERY MONITORING MARKET BY COMPONENT
6.1. Hardware
6.2. Software
7. BATTERY MONITORING MARKET BY BATTERY TYPE
7.1. Lithium Ion
7.2. Lead Acid
7.3. Others
8. BATTERY MONITORING MARKET BY END USER
8.1. Automotive
8.2. Consumer electronics
8.3. Energy and Power
8.4. Others
9. BATTERY MONITORING MARKET BY GEOGRAPHY
9.1. North America
9.1.1. USA
9.1.2. Canada
9.1.3. Mexico
9.2. South America
9.2.1. Brazil
9.2.2. Argentina
9.2.3. Others
9.3. Europe
9.3.1. Germany
9.3.2. France
9.3.3. United Kingdom
9.3.4. Spain
9.3.5. Others
9.4. Middle East and Africa
9.4.1. Saudi Arabia
9.4.2. Israel
9.4.3. Others
9.5. Asia Pacific
9.5.1. China
9.5.2. Japan
9.5.3. South Korea
9.5.4. India
9.5.5. Others
10. COMPETITIVE INTELLIGENCE
10.1. Competitive Benchmarking and Analysis
10.2. Recent Investments and Deals
10.3. Strategies of Key Players
11. COMPANY PROFILES
11.1. Texas Instruments Incorporated
11.2. BatteryDAQ
11.3. Eagle Eye Power Solutions, LLC
11.4. ABB
11.5. Schneider Electric
11.6. Canara, Inc.
11.7. Socomec
11.8. Curtis Instruments Inc.
11.9. Storage Battery Systems LLC
11.10. Powershield Ltd.
11.11. Btech Inc.
11.12. HBL Power Systems Ltd.
LIST OF FIGURES
LIST OF TABLES
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.4. Currency
1.5. Assumptions
1.6. Base, and Forecast Years Timeline
2. RESEARCH METHODOLOGY
2.1. Research Design
2.2. Secondary Sources
3. KEY FINDINGS
4. MARKET DYNAMICS
4.1. Market Segmentation
4.2. Market Drivers
4.3. Market Restraints
4.4. Market Opportunities
4.5. Porter’s Five Forces Analysis
4.5.1. Bargaining Power of Suppliers
4.5.2. Bargaining Power of Buyers
4.5.3. Threat of New Entrants
4.5.4. Threat of Substitutes
4.5.5. Competitive Rivalry in the Industry
4.6. Life Cycle Analysis - Regional Snapshot
4.7. Market Attractiveness
5. BATTERY MONITORING MARKET BY TYPE
5.1. Wired
5.2. Wireless
6. BATTERY MONITORING MARKET BY COMPONENT
6.1. Hardware
6.2. Software
7. BATTERY MONITORING MARKET BY BATTERY TYPE
7.1. Lithium Ion
7.2. Lead Acid
7.3. Others
8. BATTERY MONITORING MARKET BY END USER
8.1. Automotive
8.2. Consumer electronics
8.3. Energy and Power
8.4. Others
9. BATTERY MONITORING MARKET BY GEOGRAPHY
9.1. North America
9.1.1. USA
9.1.2. Canada
9.1.3. Mexico
9.2. South America
9.2.1. Brazil
9.2.2. Argentina
9.2.3. Others
9.3. Europe
9.3.1. Germany
9.3.2. France
9.3.3. United Kingdom
9.3.4. Spain
9.3.5. Others
9.4. Middle East and Africa
9.4.1. Saudi Arabia
9.4.2. Israel
9.4.3. Others
9.5. Asia Pacific
9.5.1. China
9.5.2. Japan
9.5.3. South Korea
9.5.4. India
9.5.5. Others
10. COMPETITIVE INTELLIGENCE
10.1. Competitive Benchmarking and Analysis
10.2. Recent Investments and Deals
10.3. Strategies of Key Players
11. COMPANY PROFILES
11.1. Texas Instruments Incorporated
11.2. BatteryDAQ
11.3. Eagle Eye Power Solutions, LLC
11.4. ABB
11.5. Schneider Electric
11.6. Canara, Inc.
11.7. Socomec
11.8. Curtis Instruments Inc.
11.9. Storage Battery Systems LLC
11.10. Powershield Ltd.
11.11. Btech Inc.
11.12. HBL Power Systems Ltd.
LIST OF FIGURES
LIST OF TABLES
